On June 26-27, 2012, Minister of Finance of Ukraine Yuriy Kolobov paid a working visit to Washington D.C.
During his visit the Minister of Finance met U.S. Department of the Treasury's Under Secretary for International Affairs Lael Brainard, First Deputy Managing Director of the IMF David Lipton, Vice-President of the World Bank Philippe Le Houerou.
Yuriy Kolobov also participated in a public event organized by the Atlantic Council of the United States in association with Carnegie Endowment for International Peace entitled “Fiscal and Economic Reform in Ukraine”. In his remarks Yuriy Kolobov informed the American side and representatives of the international financial organizations about major initiatives of the Government of Ukraine in the sphere of creating favorable investment climate and maintaining balanced fiscal policy. He also outlined the formation of Ukraine’s macro-financial indicators in 2011-2012 and the legislative initiative of the Ministry of Finance in the management of the public debt. In particular, he drew attention to the active work of the Government towards the development of mechanisms to reduce the fiscal pressures and the introduction of effective measures for reducing the shadow economy in Ukraine.
At the IMF Yuriy Kolobov discussed the results of the visit of the Fund’s mission to Ukraine in late May as part of consultations under the article IV of the IMF’s Articles of Agreement and stressed the importance of continued cooperation between Ukraine and the IMF.
During the meeting at the World Bank the success of disbursement of the portfolio of the bank in Ukraine was acknowledged and both sides agreed to continue an active dialogue.
Visit of the Minister of Finance of Ukraine generated a considerable interest in financial and economic, governmental and non-governmental expert circles and was important in the context of bringing to the attention of the American side, IMF and World Bank the objective information about the success of the Ukrainian authorities in reforming the economy and financial sector of the country.